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MGM Resorts International reports developments across its integrated resort, casino, digital gaming, and hospitality operations. Recurring updates cover Las Vegas Strip Resorts, Regional Operations, MGM China in Macau, MGM Digital, and the BetMGM North America venture for sports betting and iGaming. News also includes quarterly operating results, guest-experience investments at MGM MACAU and MGM COTAI, brand partnerships, and capital-allocation actions.
Company announcements also document portfolio changes such as the completed sale of MGM Northfield Park operations and related lease amendments tied to the company’s regional casino footprint.
The Detroit Tigers have entered into a multi-year sponsorship agreement with BetMGM, enhancing their partnership in the gaming sector.
This deal includes BetMGM branding at Comerica Park, promotions for fans, and integration across digital platforms such as the MLB Ballpark App. BetMGM's Chief Revenue Officer, Matt Prevost, emphasized the importance of connecting with Michigan sports teams. The BetMGM app is now available in Michigan for sports betting. This collaboration aims to enrich the fan experience both at the stadium and remotely, promoting responsible gaming as part of BetMGM's commitment.
BetMGM has announced a multi-year partnership with Audacy, designating BetMGM as the preferred sports betting partner across Audacy's broadcast stations and digital platforms. This collaboration aims to enhance content integration and customer acquisition opportunities, utilizing Audacy's extensive reach in the sports radio and digital audio space. The deal follows Audacy's acquisition of QL Gaming Group and the launch of the BetQL Audio Network, reinforcing their commitment to sports betting engagement. BetMGM currently operates in 10 states and offers a user-friendly mobile betting experience.
MGM Resorts International announced the appointment of Jeff Mochal as Senior Vice President of Corporate Communications on March 29, 2021. Mochal, previously with LPL Financial, will lead corporate communications, media relations, and sustainability strategies. He brings extensive experience from senior positions at McDonald's and other firms. Ayesha Molino has been promoted to Senior Vice President of Public Affairs, overseeing public affairs and communications strategies. This move is crucial as MGM aims to capitalize on opportunities in mobile gaming post-pandemic.
MGM Resorts International received a Gold award for Corporate Social Responsibility and a Bronze award in Integrated Marketing at the 64th Adrian Awards, a leading global travel marketing competition. Recognized for COVID-19 relief efforts, MGM donated over 662,000 pounds of food and provided $15.5 million in financial assistance to employees. The marketing team launched a 'Together at Home' campaign, achieving a 200% increase in engagement on social media. The awards highlight innovative practices in hospitality during the ongoing pandemic.
BetMGM has officially launched BetMGM Poker in Michigan, enhancing its gaming portfolio alongside previous offerings in the state. This launch makes Michigan the second U.S. state to feature BetMGM Poker, powered by partypoker US network. New players can enjoy a $25 bonus and a 100% deposit match up to $600. Additionally, players can participate in a $50,000 Freeroll Invitational Tournament on April 4th. The app is available on iOS, Android, and desktop, integrating with MGM Resorts' M life Rewards program to offer exclusive benefits.
MGM Resorts International announced the redemption of approximately 37.1 million operating partnership units of MGM Growth Properties for $1.2 billion in cash. Following this redemption, MGM's ownership in the Operating Partnership dropped from 53.0% to 42.1%. CFO Jonathan Halkyard emphasized the company's asset-light strategy and strong liquidity position, indicating a focus on capital allocation to boost shareholder value and pursue growth opportunities as business recovery progresses.
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Buffalo Wild Wings and BetMGM have partnered to enhance sports betting within select sports bars across Colorado, New Jersey, Indiana, Iowa, Tennessee, and West Virginia. This innovative partnership utilizes geolocation technology to offer tailored promotions and betting options for patrons. Additionally, BetMGM introduces an in-bar channel, OT Odds Powered by BetMGM, delivering live game odds and betting insights. The partnership aims to redefine fan engagement, with significant participation in their free-to-play games since their inception.
MGM Resorts International and BetMGM will participate in the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum on March 11, 2021. CEO Bill Hornbuckle and CFO Jonathan Halkyard will present at 11:00 a.m. ET, followed by BetMGM CEO Adam Greenblatt at 11:45 a.m. ET. A live audio webcast will be accessible via the MGM Resorts Investor Relations website.
MGM Resorts International (NYSE: MGM) and BetMGM have announced a unified commitment to responsible gaming, coinciding with Problem Gambling Awareness Month in March. They aim to offer tools and education to assist players in making informed gaming choices. BetMGM will implement a weekly educational series for staff, focusing on problem gambling insights and prevention strategies. Additionally, they are promoting the Eighth Annual Gambling Disorder Screening Day, enhancing resources within the BetMGM app. MGM's GameSense program has been recognized for integrating responsible gaming practices throughout its operations.